According to Adam Caplan of ESPN, the contract is a one-year, $1.75 million deal with $750K guaranteed.

Folk was released by the New York Jets in February after he spent seven seasons with the team. He began his career with the Dallas Cowboys and has been in the NFL for 10 years.

The 32-year-old should provide some competition for second-year kicker Roberto Aguayo.

The Buccaneers selected Aguayo in the second round of the 2016 NFL draft—a move that resulted in high expectations. The former Florida State star struggled as a rookie, finishing 22-of-31 on field goals and 32-of-34 on extra points.

He converted just four of his 11 field-goal tries of 40 or more yards.

Folk, on the other hand, has just one season with a lower success rate than Aguayo's 71 percent. The veteran has made 81.3 percent of his field goals, including 87.1 percent last season. He was also 5-of-7 from 40 yards and beyond.

This move could be a dagger to Aguayo's confidence, or it may drive him to a turnaround. Either way, the Buccaneers will have options at kicker as they try to compete for the NFC South title.